Re:How do you process credit cards?
by debt on Friday February 06, 2009 @06:26PM
(#470552)
No. There's a misconception that money is immediately deposited into your merchant account once a transaction is authorized and captured.
In fact, there's a middle man called the merchant service provider which holds your funds and deposits them to your merchant account. They are contracted out by your bank.
A transaction is sent through Authorize.net to the msp then through to the customer's bank.
In fact, there's a middle man called the merchant service provider which holds your funds and deposits them to your merchant account. They are contracted out by your bank.
A transaction is sent through Authorize.net to the msp then through to the customer's bank.